Sri Lanka — image of a bankrupt state? [ANALYSIS]

Sri Lanka's fresh president Ranil Wickremesinghe faces an highly hard task -- to lead the state out of full economical collapse. The country is facing rampant inflation and shortages of electricity and food. There is simply a deficiency of fuel. Financially, he is bankrupt at the mercy of global creditors. In the background is the geopolitical rivalry of powers, including China, for which Sri Lanka is an crucial part of expanding its influence in the Indo-Pacific. However, it seems that the current crisis is very bad news for Beijing.